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university in boca raton, florida, where in two hours president obama and mitt romney will square off in their third and final debate. two weeks until election day, and polls showing continued romney momentum. could this be obama's last stand? the terrorist attack on our embassy in benghazi will be one of the phonus points of the debate. joining us now from the debate site, ace reporter cnbc contributor robert costa, "national review." robert, what is team romney telling you about tonight? >> reporter: team romney is very optimistic about tonight, but they know it will be a break-even debate. this is president obama's best subject, foreign policy, romney is a governor and businessman, not his wheelhouse, but he's been well prepared for this debate and expect him to come out firing at the president's record, especially on libya. >> okay. let's pursue that. is he going to go right after benghazigate, go right after it picking up where he left off in the last debate? >> well, as you remember, larry, the romney campaign feels during the town hall romney didn't have a great answer on libya
bottom bears. >> not unless obama get re-elected. it brings in romney and the federal reserve board. i'm going to leave the treasury alone. if romney is elected for president, first of all, glen hubbert, gregory man cue and john taylor, a third distinguished economist, taylor the author of, "the taylor rule". how do you make sense of this issue. right now how can anybody make a decision? >> you don't know what the macro policy is going to be. it has been a huge support. we are up about 80% of earnings. so are stocks. so it has been a key driver. but the fed can't print profits here. but the bottom line is we hit that limit to where companies need to see momentum and there is so much uncertainty around what he may do. what else is going to happen. we don't know. >> nothing is going to change. >> he will serve out his term to january 2013. that is what happened with green span. he will not be reappointed. mitt romney is going to win. you thought today's turbulence had a little bit to do. by the way, i don't disagree with you. i would have liked him to be a little tougher. one of them was
. romney leads president barack obama 50-47. this is just further evidence why i believe he will sweep the midwest and win this election going away. i'm now predicting a 330 electoral vote landslide. that's right, 330 electoral votes and i'm going to show you why later on. but first up tonight, with elections 12 days away, then the lame duck congress, including the fiscal cliff, we call on leon cooperman, chairman and ceo of omega advisers, one of the 40 businessmen behind the open letter, a critical choice for america advertisement that ran earlier this week in "usa today." lee, thank you for coming on. i appreciate it very much. i have to ask you, you've had a fabulously successful career. this has to be a tricky moment. you have an election in 12 days. you have an unsteady market with earnings dropping and so forth and so on. what is your advice to investors? how do we get through this between now and year end? >> thank you, by the way, for having me on the show. i think the stock market presently is in a zone of fair valuation. so i wouldn't call myself aggressively bullish or bear
president obama, vice president biden, and secretary of defense panetta. we know that from the bing west reporting. what are they talking about? they know the embassy's under attack. these guys are in the oval office. why aren't they pulling out the heavy artillery? fighter jets to strafe them. from sigonella. it could have been in one hour there to stop it. and then the commandos could have been bused in there in three hours. why wasn't that decision made to protect our men? >> well, a couple of reasons. the first is a quick reaction force has to be quick. it has to be big enough to overwhelm the enemy. and it has to have good intelligence. and i don't think any of that stuff existed. >> these are e-mails, jack. >> no, i understand. >> these were e-mails one coming after another. and as we just reported from other stations, we now know more e-mails coming that they were holed up in the annex for six hours. six hours. we could have sent a whole army there in six hours. >> let me tell you the reprehensible part. it is that they knew from the very beginning that it was not a reaction to th
, three town. president obama and mitt romney dual over foreign policy and the health of the u.s. economy in their third and final debate. made vase mire lays out her vision of yahoo! as the internet company posted better than expected third quarter figures. but burberry an lis cutting price targets. and bank of israel splaning for all sorts of eventualities among tipped tensions. . >>> on today's show, plenty to get through of course. let's remind you what's coming up. we'll discuss the presidential debate with experts one which president obama says was clearly the winner while the other thinks romney was the one who looked more presidential. we'll hear from the governor of israel stanley fisher with a live update from tel aviv. and we'll get an in-depth analysis on the latest earnings out of japan. find out what stocks our guests think is a buy at 10:30 cet. also is there more easing on the cards for the fed? we'll head out to philadelphia with the latest expectations. the fed begins its two day meeting. but first, president obama and mitt romney faced off for the third and final time b
in the oval office between president obama, vice president biden, and defense secretary leon panetta that was on 9/11. and by 5:00 p.m. eastern time they would have had already two of the three emails. what do you think happened? do you think at that meeting they decided to hatch this cock and bull story and not to allow the troops to go and not to play this higher and not to do the things that patriotic people would do? what happened at that oval office meeting? >> i can't get into the minds of what they did larry. i do know as of 5:00 p.m. when they met, they already knew that the american ambassador was missing in action in the middle of a fire fight with terrorists. the american ambassador, equivalent to a four star general, the symbol of america, he's missing. and we don't move our military forces? i'm baffled by it. i think the nation is baffled by it. >> he owes everybody an explanation. what do you make of the latest now today, hillary clinton is saying that she wanted to add security in benghazi and that the president said no. now that looks like she's jumping ship but what
president and will sort of continue to muddle along. but, i think broadly president obama puts much more emphasis on reducing unequality and governor romney puts more emphasis on growth. they tell you we want everything and governor romney might say something about inequality, but broadly speaking that implies probably somewhat forward growth under president obama, maybe not for middle income americans and faster growth under romney. although, of course, we don't know exactly romney's plan but i think what he has in mind is a big tax cut, reagan/bush like, hopefully improving the tax system. i don't know if he could really believe that that would balance the budget or be neutral right away. but i think he believes he can much improve growth and over the long run things would balance out. and president obama says that we're well into this housing is picking up, and things are gradually healing. if you're patient, things will be a lot better under me too. >> what about the fiscal cliff. we're obviously going off the fiscal cliff at the end of the year when the tax cuts expire and we'll see
playing the role of president obama in mitt romney's debate preparations. then coming up at 8:00, we have senator john kerry. he's been playing mitt romney in the president's debate prep sessions. of course earnings central is still in full swing. before the bell, we will hear from dupont, 3 m, united technologies, and many others. also a topic dominating discussions is the fiscal cliff. the annual meeting of the securities trade group is taking place in new york today. and the looming risk the u.s. economy is sure to be on the agenda of participants. we'll be joined by a few of those this morning. including gary gensler. chet heick will also be joining us. on the lighter side of thing, we'll have a rock star among us this morning. yeah, we mean this literally. not just the rock stars we usually have. john popper of blues travelers will be joining us on set at 8:40 to talk about the business of music. but first, let's get over to joe. you have some breaking earnings news? >> i do. at about six numbers for dupont. i'll give you the one that is comparable to expectations. and that is 44 cen
the markets like, romney or obama? >> i don't really know. >> markets always have a preference. >> people who vote for obama would say obama, people who vote no romney would say romney. >> but what would the markets say? >> business might modestly favor mitt romney, but it doesn't necessarily mean that's better for the markets or not. >> at jpmorgan, are you worried about the fiscal cliff situation and which way it could return in the month of december? >> there are two parts. one is actually what happens at the end of december and you can feel the effects of that before the end of the december. the second one is the real fiscal cliff, does the united states of america show it has the will and capability to fix its fiscal problems. i'm not worried as much for jpmorgan as i am for american business and more than that, the american jobs and the average american. a fiscal cliff and another recession would be terrible for america. we should do everything we can to overt that. >> if an acceptable solution does not come about, do you feel we could have a recession next year? >> yes. i think they're
with rosneff but says no decision has yet been made. and president obama, mitt romney head into their final debate tonight as new poll shows they're now in a dead heat with just two weeks to go before election day. and plus japan records its sharpest export since last year's devastating earthquake. raising fears the world's third biggest economy could be slipping back into recession. it's the start of another week here on on "worldwide exchange." kelly is state side helping to host "squawk on the street." p meanwhile plenty to come still on today's show. here in london, protesters have been marching against austerity. one of our reporters was there. demonstrators took out their anger on multinational companies. in new york, wall street a underwhelmed as corporate giants like ge, part owner of this station, had cautious revenues. we'll pibd out if cat pill what are and yahoo! will buck the trend or affirm it pnd and obama and romney squaring off, who is likely to deliver the knockout below. we start out with the focus squarely on earnings. fill whips beat expectations. the firm which traditi
money and the election. the power of the presidency. what obama or romney would mean to the markets or economy. then the bombshell accusations by a banker turned whistle employeer. my interview with greg smith about why he left one of the most prestigious firms in world and the charges he makes. and cooking up the formula for success for small businesses. "wall street journal" report begins right now. >> here's a look at what's making news as we head into a new week. some encouraging news about the economy. the cross domestic product grew up 2%. the broadest overall measure. economists were expecting a growth rate of 1.8%, the number booming by increase in spending and stronger housing market. the dow falling nearly 250 points on tuesday after poor earnings news an the market was plate later in the week. big multinationals did not farewell. guidance was light. boeing and proctor and gamble beat expectations. among technology and internet company, yahoo! and facebook beat expectations -- the company introducing the ipad mini, smaller and lighter than the full size ipad and listing fo
into year end absolutely. also the election. i am of the opinion that obama is probably going to win and the market would rather see romney. if that turns out to be true, i don't think that causes panic but we lose some of the enthusiasm. it's been a great year for stocks. i think we start to lose some of that enthusiasm if in fact obama goes onto win. >> partly this market reversal here from very strong rally mode earlier in the year on central bank easing and fed stimulus has turned as a result of earnings. herman, let's talk yahoo! for a moment. waiting on numbers to come out. are you expecting yahoo! to have seen what some of the other technology names have seen and that is a slowdown? >> for yahoo! it's different. obviously google's earnings last week set up an expectation to be not that high for yahoo!. and yahoo! is going through a change in regime whether it's the ceo, cfo, as well as head of sales. not expecting much for numbers there. the focus will be more on the company strategic direction and growth opportunities going forward. >> david, what do you think? >> what's more
14 14 14 is likely t more hawkish than under an obama presidency. >> let's talk a little bit about whether there is any possibilities should there be a romney victory that he would begin nudging him out above his term ends in 2014. >> he can't force him to resign. it is a voluntary thing that bernanke would do. dose have the ability in 2014 appoint the chairman an vice chairman and another member, beginning already actually. but the thinking is whether or not there is a war of words. and steven stanley, the economist steven stanley, doesn't think that bernanke would win that. he said, "the fed chairman could resist the pressure, could trigger a -- potentially triggering an ugly standoff. in that standoff bernanke would have the low cards. >> bernanke wouldn't want to politicize the fed but one wonders whether bernanke, knowing that mr. romney has said i'm not going to reappoint you, whether mr. bernanke would say some time in 2013, okay, i'm going to step down and give you the chance to appoint somebody now. >> so bernanke would be urged by people who know the fed and love the fed
aggressively than the commodities market. i have a chart i'd love to pull up now. if you follow president obama's numbers on trade and overlay with the goldman sachs commodity, the fortunes are almost the exact same chart. the market's worried that if romney gets elected, all this money printing, the quantitative easing, that stuff might be over. it could be bad news for the commodity trade. >> all right. we'll leave it there. thanks, everybody. really appreciate it. we'll keep watching this market, which ended high we are a late burst of buying. we have breaking news on decker's outdoor. >> maria, this is what i like to call a who knew what when story. if you look at deckers right before the close, the stock took a really big hit. down quite a bit in the 30 minutes before the market closed. company came out with results. they were okay. it's the guidance that counts. you've got to listen to these numbers. the company now says sales in 2012 would increase by 5%. that's compared with its earlier guidance of 14%. eps will be down 33%. earlier guidance, down 9%. so it will be interesting to see ho
/unquote certainty. >> if you think president obama wins re-election, we sort of muddle along and not headed towards growth then? >> again, i think if you look at what's happened over the course of the last four years, but particularly the last 18 months, we've seen significant desell race in growth. i think that has much to do with the set of policies that been problematic in terms of job growth in this country and also fundamental growth of overall gdp. >> can governor romney win then do you think? it's an incredibly tight race. >> you tell me. i think people have seen the real mitt romney, the individual who has had an incredible track record of success, solving complex problems both in the private sector at bain years ago but also in the public sock tore in terms of saving the salt lake city olympics and governor of the state of massachusetts during a point in time when we had incredible bigt situation in the state and he was able to solve that. >> that was one of the points he made at the debate. he was able in the face of different parties, he was able to -- >> go ahead. >> i was going to say,
economy. >> worse news on the economy is bad news for president obama. this is one of the reasons why mitt romney has risen in the polls lately is that he has retaken the edge over president obama over who can best deal with the economy. i am skeptical that even high-profile cuts like this are going to change attitudes that have been baked in to the american electorate for quite some time. we saw recently that we got good news on the unemployment rate. went and fell below 8%. that didn't really move the needle all that much, just as bad jobs reports before didn't move the needle. i think this is certainly not what president obama wants. it is something that has the potential to help mitt romney but we haven't seen much evidence of it so far. >> this morning's news on jobless claims, not so bad. improvement there. news on housing has been better. so there are signs that the economy may be -- or at least parts of it may be improving. but let's talk about the fiscal cliff and this push by some 80 ceos, among many different pushes, to get this solved. what are you hearing from your sources abo
. >>> sue, get ready for round three. president obama, governor romney gearing up for their third and final make or break debate. this time focusing on foreign policy. it comes as a new nbc news/"wall street journal" poll shows the two men in a dead heat, a tie. john harwood live at the debate site in boca raton, florida. >> reporter: tyler, it is 47%-47% among likely voters which tells you that turnout is going to be everything in this race. one of the functions of these debates is for each candidate to energize their side and pump up turnout. we saw that successful first debate that mitt romney energized republicans in a very major way. president obama did that to some extent among democrats in the second debate. but i want to talk a little bit about what has gotten the two sides to this tie. obama's been leading for the last several months. he had a three-point lead in mid-september but two things have happened to get mitt romney up to 47%. the first thing is he's re-asserted his edge on handling the economy. that was tied in september. now he leads obama 46%-40% on who would be better a
pessimistic that we'll have clarity even by early december. it could be a lame duck obama, a reelected obama, but either case, it's not clear what will happen. >> we'll get into that. we'll take a short break, but we'll get more in the fiscal cliff in a second. but up next, more than 80 top ceos have written to congress with their own ideas. find out what they're suggesting. >>> these are your headlines from around the world. santander and credit suisse miss expectations, but investors welcome the cost cutting plans. daimler trades lower after warning on full year profits. and uk gdp jumps a better than expected, strongest quarterly gain in five years. ceos of more than 80 top companies are urging congress to use tax increases and spending cuts to reduce the nation's deficit. "wall street journal" says the group will release an open letter today that -- greg, do you agree with their sentiment? >> i agree and it's not surprising because virtually all the people who have looked at this problem in washington who aren't running for office agree with this problem. i think this is still significan
. this report of course came just days before tonight's foreign policy debate with president obama and mitt romney. >> great editorial piece in the journal about how that came about. some senior official obviously said that a tempting october surprise. talks about not just in that instance, a movie about how to-to-cheat on your wife where you're this bed with a woman, your wife comes in, you just keep denying as the woman gets dressed, you get dressed, your wife keeps say whog is this woman, what are you doing, what woman? until she finally leaves and then five minutes later the wife just gives up and says what do you want for dinner tonight. but that's typical of what we've heard for the last 3 1/2 years. >> tonight is the big debate. it will be focused on foreign affairs. and they've already put out a list of the topics he wants to get to. so i don't know what new will happen tonight. they'll be sitting at a table. this might be more calm. they won't be walking around. also there was a new photo that's been released of fidel castro. seen holding up the photo of castro, he says he met with
. so the question is is this going to have an impact? and can president obama make it have an impact? >> actually, i feel bad for "monday night football." that's how bad the ratings are going to be. >>> because of the subject matter, it inherently favors the sitting president. >> i think it would have inherently favored president obama had it not been for the benghazi business. the benghazi business has changed foreign policy. i think that's a big problem. >> how do you think he's going to answer the benghazi question? >> i don't know. there are people writing timelines, there are people parsing through the intelligence. i also want to see how much romney turns a foreign policy debate into an economic policy debate. >> i think one of the issues may be romney distinguishing himself from president obama. actually, we a grgree on this policy. >> here's the final debate of the 2012 presidential campaign. here's bob schiefer of cbs news. >> good evening from the campus of lynn university here in boca raton, florida. this is the fourth and last debate of the 2012 campaign brought to you by
their own obama ambassador is make sure you're not seen in public talking japanese because people have been attacked in restaurants. the situation is volatile. if we see it show up in data is -- >> that's a great point. i'm focused on u.s. companies where china has been -- free degree port, where china has been the momentum -driver so you want to buy -- gm was breaking out last week. i'm thinking, wow, maybe gm is taking share in china. maybe it's just people saying, stock's beat down. >> closer to home this morning, microsoft under scrutiny as the company gets ready to launch windows 8 later this week. many changes are drawn skepticism from analysts and customers, including the removal of the traditional "start" button. one using complaining in "the times" saying, it made me feel like the biggest amateur computer userer. we've heard from the likes of everybody who covers the company saying there is some risk when you change a product so dramatically, as they are with 8, jim, you'll alienate some people who are comfortable with it. >> i've used it. i think it's an exciting product. i allege
by president bush for the first and president obama for the second. the discussion is who will replace the chairman and how much faith can people have on what he says if the fed chairman will leave in early 2014? it makes appointments for now providing continuity to the fed but powell's term erxpires january '13. and duke is another one whose term may be up. if bernanke chooses to stay on, many believe he should do to preserve the independence. there's much for the central bank to discuss. also not a lot to decide. here's some of the things on the table for the fed. something called the treasury cliff. i'm calling it that. operation twist will end and stop long-term treasuries. what does it do when it ends? expectation is that it goes out and buys long-term treasuries in addition to mortgage backed securities. they're debating whether or not to have numerical targets. many members have expressed unhappiness with calendar date guidance. and then guiding market expectations is going to be key for the fed here. how do you calibrate how much qe the fed does with economic data? we used to d
. obama is repeating the mistakes much bush and the fed is still there, ben bernanke has been repeating the mistakes of gre greenspan. jo think we have change until we have a monetary crisis. that is looming on the horizon sometime soon. >> folks, thank you for joining us. we'll see what happens here as we head into the final hour of trade. >> bob insana was driving the market? >> the fact that apple isn't having the volatility that people thought. we were lower, 1.5% to the downside but apple is essentially flat on the day on huge volume. north of 30 million shares, that's what driving things today. there's a lot of talk about the impact of hurricane sandy but not a lot on the stock market. there's been play on roofing and water proofing company up a little bit here. rpm and wr grace do a lot of water proofing but i don't see heavy volume. insurance companies, understandably, some of the ones with exposures, little weak. travelers and chubb, not big volume in them. whitewave foods thinkds silk and land o lakes, opened at 19 and has broke the issuance price or fairly early this morning.
, could get the stock moving. in china. this is really -- this is maybe the most right now. obama/romney stock away from the business and obama's people, made it clear they won't sell the remaining stake in gm. tim massen said the same thing, and the disposal agent. romney's camp indicated they will take gm immediately. they will sell that stock, so that's a pretty by near situation. you will get results from ralph lauren. will they be the next company that we thought was doing well and europe slowed? the stock went down 13 points, but that won't be enough. anything negative at all on the call, ralph lauren trades hard, up and down on very little volume. please be careful. there are huge numbers reporting, companies reporting on thursday, including exon. i think that will be just fine, by the way. i want to hear from little chart industries, the company as an important recommendation, and key to our nation's attempt to harness natural gas. it's a huge cost control for the whole conversion. we'll be on it. kellogg is a trade and there was a time when kellogg was consistent, consist
. a middle class to rebuild. but the last thing we should do is turn back now. president obama: i'm barack obama and... i approve this message. [ female announcer ] the power to become a better investor has gone mobile. with features like scanning a barcode to get detailed stock quotes to voice recognition. e-trade leads the way in wherever, whenever investing. download the ultimate in mobile investing apps, free, at e-trade. [ticking] >> shale gas may be a significant new energy source, but it may come with some very toxic side effects. among them, the chemicals used in fracking may cause health problems and contaminate the water supply. the safety record of chesapeake energy may be better than most, but the company had an accident in louisiana that drew a lot of attention. it happened in 2009 when 17 cows grazing near a drilling site died a gruesome death after drinking fracking fluids that ran off into their pasture. industry-wide, accidents keep happening-- like this well explosion-- due to machine malfunctions or workers cutting corners. environmentalists like michael brune, executive
of that permanent growth that did take place took place during the eight years before president obama was elected. president obama did put this place a temporary set of measures to push the economy forward. recovery act in 2009. but the vast majority of that has rolled off by now. he has actually pushed for and signed into law larger cuts in domestic discretionary spending than we've seen in a very long time. and actually larger cuts in domestic discretionary spending than the simpson bowles commission wanted to see. there's no question that containing the scale of government is an important part of this. but there's also no question as the ceos recognized yesterday that something's going to have to happen on the revenue side. we're collecting now less than 16% of our gdp in revenues. that is lower than anytime since the second world war. >> but just as people argue that 25% that we're speaking, part of that we need to spend because we've been through this very deep recession, and also part of the reason that we're at 16% on the revenue side is because we've just been through this very deep reces
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, housing, might get pushed to the back burner. our next guest wrote an open letter to president obama and governor romney asking why housing is not front and center of the campaigns. "considering the depth of these debates and the months of political advertisements in this campaign, it is discouraging that there has not been serious discussion about housing. as leaders, you ignore housing at our peril. the remax chairman and co-founder who wroelt that jote us now on the program. thank you for joining us, dave limit niger. we know housing is important. people know housing is important. are you asking for two specific things. one is that they don't eliminate mortgage interest reductions. they don't eliminate that tax break. why in your view when the country can't afford what it's doing should there be an entitlement still for those that have mortgages when there isn't an entitlement or tax rebate for renters. why should renters subsidize mortgage holders? >> well, the tax deduction has been there for over 50 years to encourage home ownership. the problem we've got is we've just gone thr
? >> because you're con fwlating it with obama's plan to let the bush tax cuts expire on people in the top 2%. there are people that want to go back to -- >> i don't think they're suggesting that -- there t. tis about personal income. >> this is simpson-bowles. the ceos say they can succeed both financially -- you have to include comprehensive and pro-growth tax reform which broadens the base. the entire base of people. lowers tax rates, raises revenues and reduces the deficit. because the left is jonesing for the clinton top marginal -- just so we can get back to that -- >> they walk a fine line and the campaigns -- obama's campaign has not agreed to cut entitlements. romney campaign has not talked about higher taxes on -- >> obama's entire -- >> this walks you throughout middle of both. >> the 20 page thing that he wasn't going to release, that talks about nothing with entitlements. all talks about is raising taxes on the top 2%. we had bob shrum the other day once again with the talking points about back in the '90s -- >> i'm not trying to conflate it with clinton. all i'm suggesting is t
concerning u.s. president barack obama. log on to cnbc.com for that. >>> also, major airports are now removing x-ray machines, deemed to be too invasive. keep up to speed on the new mini ipad and cnbc's live blog, could it be another winner for apple or not? will the price put people off? all on the website, cnbc.com. we'll take a short break. still to come, iran's warning that it will stop all exports if western sanction get any tighter. we'll be in tel aviv to hear exclusively what the israeli finance minister has to say about those sanctions. >>> a few companies, whirlpool, harley davidson, and ups bucked the trend in registered gains. what all those companies have in common? they did most of their business in america and have limited exposure to the likes of europe and china. so what we're asking today, is it time to buy america? you the e-mail us or tweet us. israel's finance minister said the current sanctions against iran are not sufficient to bring the country's nuclear ambitions under control. that comes amidst a new threat from iran that it will stop oil exports if sanctions
to sell off if obama wins. from here until two weeks from today, i think the market's going to continue under pressure. the question s do we continue with that pressure into year end or do we reverse it on an emotional high from a romney victory? 2013 is going to be a different story, but the last two months of the year will be purely on election emotion. >> and let me bring up another point. there was a story in "the new york times" this morning that ben bernanke is telling people privately he doesn't want a third term as fed chairman at this point. how much of that could be part of the selloff? >> i wouldn't link it to a rumor. it's too broad based and seems to be too much tied to the earnings announcements. having said that, while i think an election is important, i'm not sure which candidate is actually going to be good for the market. the reason is, to the extent we see a significant pullback on the spending, even by the government, i'm not sure that's going to be particularly positive, especially if it drives csignificant deceleratio in the economy. i think it's whoever can provid
this is related to the fiscal live cliff at all. if it was, last night president obama indicated there's no way we're going to go over that, he's not going to let the spending cuts happen. what about the tax increases? the day's numbers i think was more a function of the fundamentals, bad earnings, specifically top-line revenue growth was really slow. >> but how is he going to stop the spending cuts? i didn't understand that from the debate last night. how is he going to stop the spending cuts from going through when that's the law? which, by the way, he signed. it'sautomatic. how does he stop that? >> they would have to craft a deal in order to have it paid for. one of the ways is to allow the payroll tax cut to expire and also to perhaps phase out the extended and emergency unemployment insurance benefits. that would provide enough revenue saved in order to offset any of the sequester. so it's pretty easy to do the math in order to avoid the cuts, but it's still going to be painful. if you think about what that might mean for consumer spending going forward if you're a typical worker who all the
, the obama administration. you know, i think there's going to have to be some examination of health care costs, no question about it, no matter who gets elected, there is a belief this is one of the major driver of government deficits going forward, so we'll have to work with either administration, but an important issue on both sides of the atlantic. >> the last question i want to ask you, if there is one area that's costing governments worldwide the most, it is diabetes. that has become a major focus for you. where are we? dreaded disease, epidemic proportions. what have you got? >> 250 million people have diabetes on the plan. and the most important thing, though, is that we can prevent this disease. and we will spend $100,000 to treat you. we will not necessarily spend $1 to keep you well. there has to be a shift in health care priorities to more prevention and better management of these chronic diseases. and i actually am working the ceo of nestle on a global health charter. >> oh, great. >> to actually try to mobilize multiple stakeholders around this. >> i wish you great success w
. >> president obama was concerned enough to ask his commission on bioethics to hold hearings on venter's new technology shortly after the results were published in the journal science. apart from the legal and regulatory questions raised, there are some moral and ethical ones as well. there are a lot of people in this country who don't think that you ought to screw around with nature. >> we don't have too many choices now. we are a society that is 100% dependent on science. we're going to go up in our population in the next 40 years. we can't deal with the population we have without destroying our environment. >> but aren't you playing god? >> we're not playing anything. we're understanding the rules of life. >> but that's more than studying life; that's changing life. >> well, domesticating animals was changing life. domesticating corn... when you do crossbreeding of plants, you're doing this blind experiment where you're just mixing dna of different types of cells and just seeing what comes out of it. >> this is a little different, though. this is another step, isn't it? >> yeah, now we're
for a third term. not clear, by the way, that bernanke wants a third term even under obama, but how does that affect or impact your thinking in terms of politics? >> i think bernanke has done an absolutely superb job. i mean, what he did in the fall of 2008 was gutty, it was basically right, you know, everybody can talk about tinkering at the edges, but i will say this, if ben bernanke hadn't been there in 2008, i'm not sure where we would be now. i have enormous respect for him. he's a very, very intelligent man. you've got to respect him enormously. and, you know, he sees an economy that he's sort of fighting by himself to get started when you look over at a congress that's more or less paralyzed. and i would never bet against him. i would say that i get a little worried about continuously expanding the balance sheet of the fed. and, you know, we now are getting 3% of our revenues from the profit that the fed is running on its carry trade if you look -- >> the united states gets 3%? >> yeah. that 2.4 trillion or 2.5 trillion of revenue, the fourth biggest item, the first item is person
. >> thank you so much. >>> it is tweet time. president obama on "the tonight show" with jay leno last night talking about test driving a chevy volt around the white house. we're asking you guys, what other products do you think the president has secretly tested? tweet us. we've got your responses next. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. >>> squawk on the tweet on a thursday. the president sat down with jay leno last night revealing one of the quirks of being president. when he said he got to secretly test drive a chevy volt. >> wow. >> brings us this morning to our "squawk on the street" question. >> big giant perk. >> forget air force one. what other products to you think the president has secretly tested. gary writes i heard he tried out donald trump's fact finding home kit. s
might be better. >> what about that, david steinberg? in terms of the election, romney win versus obama win, what happens to the stock market? >> romney wins, mark goes higher because it's going to be more favorable to regulation, possibly getting rid of obamacare. in terms of fixed income markets, right now there's almost price fixing beginning on. the largest buyer in the bond market is the united states government. that's not an investor. they have a different agenda. if romney were to come in and ask the fed to pull back on those monetary policies, you're going to have the largest buyer in the market no longer there. the question would be, where would be the fair level for buys? i don't know. but i would suspect it would probably be a bit higher and certainly where it's trading now. >> all right. gentlemen, thank you all. keeping an eye on this market and pandora behind us. >> good to have you, thank you. >> we heard the bias at the close was to the upside. in fact, that's what's happening. the dow up nine points. >> we'll take a short break. then see this storm? it could be headed
in theory at least romney is more pro-business relative to obama. that's good for stocks. it's not that easy. beyond that there's a whole issue of the future of the fed and their commitment to the five-year ranks where they are and under romney that would not be the case. the big thing for us in the election is the bond market. that's highly asymmetric. could be a big loser on romney victory and the stock market has to deal with that even if the risk premium would come down. >> thanks for having us. sounds like jim was listening to the "squawk on the street" discussion we had yesterday on why the romney victory may not be great for stocks. >> cramming in a lot of information in a short period of time. we'll come to you later. you just heard from jim o'neill. still ahead, an exclusive with the man at the head of goldman sachs. that's lloyd blankfein. >> one restaurant stock that's still feeling the love this earning season. we'll talk about panera. for how long can it stay on top of its game? look at those games today. the company's ceo and executive chairman will join us live on cnbc. if we
not like obama will say this was padded by five more planes sold. this one was padded by an error that will be reversed or california counted twice. we're in a weird mode. whatever it said, if it's positive, it's a lie. i'm not buying that. these are good numbers. reverse the market. it's for real. >> good or just not bad? >> not bad. any kind of good news would be welcome right here and this comes under the category of good news. >> better than what we anticipated. better than we saw in the last quarter. maybe we can keep it going although one wonders where we are this quarter already given how much talk there is about the fiscal cliff and everyone pulling back and not like the numbers we've seen although those were third quarter numbers we saw from corporate america but particularly technology where it seems as though spending really did slow. >> september was bad. the u.k. yesterday posted a number of 1%. i was watching when the number came out. there were people high fiving. 2%. that's twice as good as what they did. >> two times the amount of high five. >> romney supporters m
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